Exit the Dragon?: Privatization and State Control in China

Drawing on the research of ten scholars from around the world,
this volume evaluates China’s privatization experience by
investigating the efficiency and fairness of the sale process and
the credibility of the government’s ambition to create
world-class state-owned conglomerates.

One of the first book-length works to evaluate China’s
privatization experience.

Draws on the research of ten scholars from around the world
including Liu Xiaoxuan (Chinese Academy of Social Sciences), Sun
Laixiang (SOAS, London University) and Chih-jou Jay Chen (Academic
Sinica).

Investigates the factors determining the decision by government
officials to sell or retain their firms.

Evaluates how credible the government’s ambition is to
create world-class state-owned conglomerates.

Compares the efficiency and fairness of the sales against the
lessons learned from the former Soviet bloc.

Explains how the state is withdrawing from key sectors such as
automobiles, energy and telecoms.

Stephen Green is Senior Economist, China, for Standard
Chartered Bank, Shanghai, and formerly Head of Asia Programme at
Chatham House (the Royal Institute of International Affairs) in
London. He holds a First Class Honours degree from Cambridge
University and a Ph.D. in Government from the London School of
Economics and Political Science. He has also studied in Taiwan, at
Fudan University in Shanghai and at Culture and Language University
in Beijing. His articles have appeared in the Financial Times, the
South China Morning Post, and the Asian Wall Street Journal and he
is a regulator commentator on China for CNN and the BBC.

Dr Guy S. Liu obtained his PhD from Oxford University,
and specialized in economics of industry with a particular interest
to China’s enterprise reform. He is a lecturer at Brunel
University and professor of Sichuan University in China. He also
lectures on the Chinese economy and industry for the visiting
MBA/EMBA programme at Oxford University. He has been invited as a
guest editor of a special issue on China’s economy and
enterprise reform for a number of journals including China Economic
Review, Economics of Planning and Corporate Governance – An
International Review. He has also been involved in policy advisory
work on Chinese enterprise reform for both the British and the
Chinese government. He is a regular commentator on China’s
economic affairs for the BBC and Free Asia.

'A lucid and comprehensive guide to China's privatisation puzzle.
This book is a must-read for anyone trying to understand the big
patterns or the devilish details of state-owned enterprise reform
in China.' Arthur Kroeber, Managing Editor, China Economic
Quarterly

'Like Dr. Doolittle’s Push-me Pull-you, China’s
approach to state enterprise privatization is straining in opposite
directions, and different analysts watch different ends and reach
different conclusions about where it is going. Stephen Green and
Guy Liu herd these experts into a valuable single volume on
Beijing’s schizophrenic effort to sell off enterprises and
retain enterprises simultaneously. Readers will end up no less
sceptical that China’s approach will lead to efficient state
divestiture with a modicum of fairness, but far more insightful and
informed about the process and motivations.'Daniel Rosen,
Institute for International Economics

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